Exam Name: Oracle Financials Cloud: General Ledger 2023 Implementation Professional
Certification Provider: Oracle
Corresponding Certification: Oracle Financials Cloud
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Oracle 1z0-1054-23 Exam Overview:
| Certification Vendor: | Oracle |
|---|---|
| Exam Name: | Oracle Financials Cloud: General Ledger 2023 Implementation Professional |
| Exam Number: | 1Z0-1054-23 |
| Related Certifications: | Oracle Financials Cloud: Fixed Assets Implementation Professional Oracle Financials Cloud: Accounts Receivable Implementation Professional Oracle Financials Cloud: Accounts Payable Implementation Professional |
| Exam Format: | Multiple Response, Multiple Choice |
| Real Exam Qty: | 50-60 |
| Exam Duration: | 90 minutes |
| Exam Price: | $245 USD (varies by country/region) |
| Available Languages: | English |
| Recommended Training: | Oracle Financials Cloud Training |
| Exam Registration: | Oracle Certification Registration Pearson VUE Oracle Exams |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | Online proctored or test center delivery via Pearson VUE |
| Pre Condition: | Recommended: experience with Oracle Financials Cloud and basic accounting knowledge. No mandatory prerequisite certification required. |
| Official Syllabus URL: | https://education.oracle.com |
Oracle 1z0-1054-23 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Topic 1: Period Close Process | - Close Activities
|
| Topic 2: Subledger Accounting | - Subledger to GL Integration
|
| Topic 3: Reporting and Analysis | - Financial Reporting
|
| Topic 4: General Ledger Setup | - Enterprise Structure Configuration
|
| Topic 5: Journal Processing | - Journal Import and Integration
|
Candid Answers About the Oracle Financials Cloud: General Ledger 2023 Implementation Professional Exam
Sign up through Oracle's official registration channels:
The exam itself is delivered via Online proctored or test center delivery via Pearson VUE, so pick the delivery option that suits you when booking.
Recommended: experience with Oracle Financials Cloud and basic accounting knowledge. No mandatory prerequisite certification required. These requirements belong to Oracle and may be revised, so check the current rules on the official exam page: https://education.oracle.com before committing to a Oracle Financials Cloud: General Ledger 2023 Implementation Professional registration.
The Oracle Financials Cloud: General Ledger 2023 Implementation Professional exam contains 50-60 questions within 90 minutes. Knowing the content matters, but the clock decides who finishes — practice committing and moving on. Full-length timed sessions in the PremiumVCEDump test engine are the most direct way to rehearse that discipline before the real 1z0-1054-23 exam.
Oracle spreads the Oracle Financials Cloud: General Ledger 2023 Implementation Professional syllabus over 5 areas, with Subledger Accounting, Reporting and Analysis, Period Close Process carrying the most weight. Study proportionally to those shares — the complete outline is in the section above this page.
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The 1z0-1054-23 exam is Oracle's official certification test — pass it and the Oracle Financials Cloud Implementation Professional certificate is yours, a credential at the Professional level. It exists to measure practical IT skills objectively, which is why hiring managers treat it as a reliable benchmark — and why candidate numbers keep rising. It also relates to Oracle Financials Cloud: Accounts Payable Implementation Professional, Oracle Financials Cloud: Accounts Receivable Implementation Professional, Oracle Financials Cloud: Fixed Assets Implementation Professional, so the value compounds as you progress.
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Oracle Financials Cloud: General Ledger 2023 Implementation Professional Sample Questions:
A subsidiary company is about to configure their General Ledger in a highly regulated country where there is a legal requirement to produce fiscal reports under local GAAP. Subledgers transferring to General Ledger must use the local currency, and there is a requirement to report to the parent company (not local currency) using International Financial Reporting Standards (IFRS).
Which two ledger types should be configured to fulfill this reporting requirement?
- A. Secondary ledger with the IFRS accounting convention
- B. Primary ledger with the IFRS accounting convention
- C. Primary ledger with the local accounting convention
- D. Reporting currency with the local accounting convention
- E. Reporting currency with the IFRS accounting convention
Correct Answer: A,C 🗳️
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Your customer uses Financials Cloud, Projects, Inventory, and SCM.
Which two statements are true regarding intercompany accounting for these products? (Choose two.)
- A. Intercompany Balancing Rules are defined centrally and applied across Financials and Projects.
- B. In Financials Cloud, Intercompany Balancing Rules are used to balance both cross-ledger allocation journals and single-ledger journals.
- C. Intercompany balancing rules in General Ledger need to be mapped with the intercompany configuration in each product.
- D. Each product has its own Intercompany Accounting feature that needs to be configured separately.
Correct Answer: A,D 🗳️
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Challenge 2
Manage Shorthand Aliases
Scenario
Your client intends to utilize the Shorthand Aliasfeature and would like to see how the aliases willappear when entering transactions.
Task 2
Create a shorthand alias for the US Chart of Accounts to record Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center.
Note:
. Prefix your alias name with 07, where 07 is your exam ID.
. There is no Product or Intercompany impact.
Correct Answer:
See the Explanation for the complete Solution.
Explanation
Here are the steps you need to follow:
In the Setup and Maintenance work area, go to the following:
Offering: Financials
Functional Area: Financial Reporting Structures
Task: Manage Shorthand Aliases
Select the chart of accounts that you want to create the alias for. In this case, it is the Corporate chart of accounts.
Click on the Add Row icon to create a new alias. Enter the following information:
Alias Name: RevDom
Account Template: 101-2000-400000-000-000-000
Description: Revenue Domestic for Supremo Fitness, Line of Business 2, and US Operations Cost Center Enabled: Yes Start Date: Today's date End Date: Blank Click on the Save and Close button to save the alias.
You have successfully created a shorthand alias for the US Chart of Accounts. For more information, you can refer to the following resources:
Account Aliases
Enter a GL Account Alias
Short Hand Alias in Fusion Financials Key Flexfield
How to Enable Account Shorthand Aliases
Which two statements are true about the Intercompany Reconciliation report?
- A. It includes ledger balancing lines generated when the primary balancing segment value (BSV) is in balance, but either the second or third BSVs are not.
- B. It displays the intercompany receivables and intercompany payables balances in summary for a period.
- C. It displays all clearing company balancing lines for a period.
- D. You can only drill down to the General Ledger journal and then from there to the Subledger journal entry.
- E. It can be run using an additional currency and conversion rate that converts all amounts into a common currency for comparison.
Correct Answer: B,E 🗳️
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You have redesigned your chart of accounts and need to update your existing cross-validation rules. There is a requirement for new rules; some simply need to be updated and others need to be deleted.
What is the most efficient way to achieve this?
- A. by using the Manage Cross-Validation Rules page.
- B. by creating Cross-Validation Rules desktop-integrated spreadsheet.
- C. by using the Manage General Ledger Security page.
- D. by using Cross-Validation Rules Import file-based data import (FBDI).
Correct Answer: D 🗳️
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